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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Retail space
3911 New Bern Ave Raleigh, NC 27610-1332
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-1919867
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1987
Construction
CONCRETE BLOCKS
Total area
3,200 SF
Zoning code
CX-3
APN
1724.11-76-2432 0218559
UPID
US53-1919867
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
New Season Treatment Center – Raleigh Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$875k
CAP Approach
CAP
$875k
Comparable Approach
Comparable
$610k
Blend (final)
Blend
$690k
Owner & transaction history
Varun Labs LLC · 4 yrs held
Varun Labs LLC
since 2022
Last sale
$660,000
6 recorded transactions
Zoning & alternative use
CX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The CX-3 is intended to provide for a variety of residential, retail, service andcommercial uses
Zone name
Commercial Mixed Use
General category
MIXED_USE
Zone area
722.48 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$1.0M
+12.2%
Medical building
$1.0M
+9.1%
Auto repair, garage
$945,000
+2.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Raleigh submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Raleigh submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$900,000
ML approach
$875,000
CAP Approach
CAP Return
Estimation
6%
$945,000
6.5%
$875,000
7%
$810,000
Alternative Use
Use
Estimation
RETAIL STORES
$925,000
Current use
COMMERCIAL (GENERAL)
$1,040,000
Change: +12% · Conversion: Easy
MEDICAL BUILDING
$1,010,000
Change: +9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$945,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $660k (Mar 18 2022)
Last sale anchor
$660k
Mar 18 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$216 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,099
Tax year 2023
Assessed value
$284,312
Assessed 2023
Previous assessed
$284,312
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed improvement
$284,312
Improvement market value
$284,312
Total market value
$284,312
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1987
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
3,200 SF
Zoning code
CX-3
APN
1724.11-76-2432 0218559
UPID
US53-1919867
Jurisdiction
WAKE
Zoning & alternative use
CX-3 · Raleigh, NCZoning CX-3 · permitted uses
CX-3 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The CX-3 is intended to provide for a variety of residential, retail, service andcommercial uses
Zone name
Commercial Mixed Use
General category
MIXED_USE
Zone area
722.48 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$925,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$945,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
CONCRETE BLOCKS
Heating
CENTRAL
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Varun Labs LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1001 CLARK RDG CT, RALEIGH, NC 27613-6243
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2022
$660,000
Varun Labs LLC
Life Craft LLC
Special Warranty Deed
—
Apr 5, 2017
$292,000
Life Craft LLC
Eao LLC
Warranty Deed
$219,000 · Fidelity Bk
Sep 19, 2007
$250,000
Eao LLC
Woo Paul W Trust
Warranty Deed
$250,000 · North State Bank
Jun 11, 2002
—
Woo,paul W Tr
Woo,paul W Tr
Quit Claim Deed
related
—
—
—
Eao LLC
—
Deed Of Trust
related
$427,533 · North St Bk
—
—
Ccm 54 LLC
—
Deed Of Trust
related
$1,000,000 · Crescent State Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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